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Benedicte Gravrand, Opalesque London:

Man Group Plc issued its third quarter (ending 31-Dec-09) interim management statement this morning.

Man's funds under management (FuM) at the end of 2009 amounted to $42.4bn, down from the $44bn reported at the end of September-09 (and $43.3bn on 30 June 2009). According the group, the reduction of FuM was principally due to AHL's negative investment movement of $1.2bn, reflecting difficult trading conditions for managed futures strategies particularly in December.

It was reported last month that AHL's flagship (Man AHL Diversified) had lost partly due to its most important trades turning against it as markets became volatile in the wake of the Dubai crisis. It returned -5.6% in Dec-09, -16.9% for the year, and now manages $21.7bn.

Credit Suisse downgraded Man Group in Nov-09 to 'neutral' from 'outperform,' as the bank was concerned about "the impact of investment performance at the group's flagship fund AHL on future sales."

The Credit Suisse/Tremont Managed Futures index reflected the strategy's downturn as it was down 4.59% (est.) in December and -6.18% in 2009. And the Barclay CTA Index was down 1.39% (est.) in December and -0.06% in 2009.

Manag......................

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